All of the Following Are Typical Results of a Booming

question 76

Multiple Choice

All of the following are typical results of a booming economy EXCEPT ________.

• A) greater competition for workers
• B) higher cost of living
• C) greater supply of labor
• D) higher price of labor

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Definitions:

Equilibrium Price

The cost at which the amount of products available for sale matches the amount of products consumers want to buy.

Clothing Market

The economic sector or industry that deals with the manufacture, distribution, and sale of clothing and apparel.

Blu-ray Players

Electronic devices designed to play Blu-ray discs, providing high-definition video and audio playback.

Law of Demand

A principle stating that, ceteris paribus, there is an inverse relationship between the price of a good or service and the quantity of it that consumers are willing to purchase.